Select Harvests Limited
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SHV Details
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Forecasts a better outlook: Select Harvests Limited (ASX: SHV) stock surged over 5.18% on May 30, 2016 due to the group’s positive update. The group reported that their Harvest Progress is ahead of earlier years. SHV also enhanced their volume forecasts from 13,700 to 14,000 tonnes. The group’s 40% of forecasted crop is getting processed while the Quality is on track. SHV estimates a better price of A$9.00/kg (0.70 USD) for the first half while the Spot prices are A$8.00+/kg (0.72 USD). The group delivered around 80% at average A$8.05/kg. SHV Orchard forecasts are also positive due to better than average rainfall in parts of southern Australia. On the other hand, the shares of SHV already rallied over 36.1% in the last four weeks (as of May 27, 2016). Moreover, the group is already forecasting better prices against the spot prices.
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Recommendation: We place an “Expensive” recommendation on the stock at the current price of $6.89
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SHV volume forecasts (Source: Company Reports)
Liquefied Natural Gas Ltd
LNG Details
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Growing LNG demand: Liquefied Natural Gas Ltd (ASX: LNG) stock surged over 6.5% on May 30, 2016 even though there is no update from the group. But, the stock rally seem to come at the back of reports of growing demand for LNG from the transport sector which is estimated to reach over 24.4 million tonnes a year by 2020, which is a 7% growth from the projected global demand, based on the Bernstein Research. This accounts over 10% global LNG imports which would absorb the current surplus LNG supply that is currently impacting the market says Bernstein's energy team.
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Recommendation: We maintain our “Buy” recommendation on the stock at the current price of $0.587
WorleyParsons Limited
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WOR Details
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Outstanding dividend yield: WorleyParsons Limited (ASX: WOR) stock rallied over 3.12% on May 30, 2016 driven by the recovering commodity prices. The group has built a strong pipeline of contracts base and has an outstanding dividend yield.
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Recommendation: We remain bullish on the stock and maintain our “Buy” recommendation at the current price of $6.59
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